LDK Solar forecasts net loss of up to $200 mln in Q2
Shanghai. July 24. INTERFAX-CHINA - New York Stock Exchange-listed LDK Solar Co. Ltd., a prominent solar wafer maker in Jiangxi Province, projected that it will record a net loss of between $180 million and $200 million in the the second quarter this year, the company announced on July 23.
LDK Solar attributed the net loss primarily to a write-down of $150 million to $160 million on its solar wafer inventory as a result of a drop in market prices, the company said in a statement.
It expects to generate revenues of between $225 million and $235 million from wafer shipments with total generation capacity of 230 and 240 megawatts (MW) in the second quarter, according to the statement.
LDK Solar is scheduled to release official financial figures for the second quarter on Aug. 12.
The company reported a net loss of $22.5 million for the first quarter of 2009, similar to the losses that most other Chinese photovoltaic (PV) product makers reported for the period.
LDK Solar's share price closed at $10.30 on July 23, down 0.68 percent from the previous trading day.